Can I retire at age 58 with 594,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $594,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17%
1 years$49,052$48,615$48,189$47,773$47,366$46,016
2 years$24,283$23,831$23,393$22,968$22,555$21,206
3 years$16,028$15,574$15,137$14,716$14,310$13,003
4 years$11,901$11,448$11,016$10,602$10,206$8,952
5 years$9,426$8,976$8,549$8,143$7,758$6,560
6 years$7,776$7,329$6,908$6,512$6,139$4,998
7 years$6,598$6,155$5,741$5,354$4,993$3,909
8 years$5,715$5,276$4,869$4,491$4,142$3,115
9 years$5,029$4,594$4,193$3,826$3,488$2,517
10 years$4,480$4,049$3,656$3,298$2,972$2,055
11 years$4,031$3,605$3,219$2,870$2,556$1,692
12 years$3,657$3,235$2,856$2,517$2,215$1,402
13 years$3,341$2,924$2,552$2,222$1,932$1,168
14 years$3,071$2,658$2,293$1,973$1,693$977
15 years$2,836$2,428$2,070$1,759$1,491$820
16 years$2,632$2,228$1,877$1,575$1,318$690
17 years$2,451$2,051$1,708$1,415$1,168$583
18 years$2,291$1,896$1,559$1,276$1,039$493
19 years$2,148$1,757$1,427$1,153$926$417
20 years$2,019$1,633$1,310$1,044$827$354
21 years$1,902$1,521$1,205$947$740$300
22 years$1,797$1,420$1,111$861$663$255
23 years$1,701$1,328$1,025$785$595$217
24 years$1,612$1,244$948$716$535$185
25 years$1,531$1,167$878$653$482$158
26 years$1,457$1,097$815$597$434$134
27 years$1,388$1,033$756$547$391$114
28 years$1,324$973$703$501$353$98
29 years$1,264$918$654$460$319$83
30 years$1,209$867$610$422$288$71
31 years$1,157$819$568$387$260$61
32 years$1,109$775$530$356$235$52
33 years$1,064$734$495$327$213$44
34 years$1,021$696$463$301$193$38
35 years$981$660$432$277$175$32
36 years$943$626$405$255$158$28
37 years$908$595$379$235$144$24
38 years$874$565$355$217$130$20
39 years$842$538$332$200$118$17
40 years$812$512$311$184$107$15
41 years$783$487$292$170$97$13
42 years$756$464$274$157$88$11
43 years$730$442$257$145$80$9
44 years$706$421$241$134$73$8
45 years$682$402$227$124$66$7
46 years$660$383$213$114$60$6
47 years$639$366$200$105$54$5
48 years$618$349$188$97$49$4
49 years$599$333$177$90$45$4
50 years$580$318$166$83$41$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $594,000, adding $3,792 every year, while hoping to spend $46,980 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 45/50/5 Blend
57$594,000$594,000$594,000$594,000
58$658,499$627,017$617,810$687,064
59$675,680$607,755$588,521$687,852
60$693,038$585,974$556,675$683,504
61$710,543$561,502$522,139$677,681
62$728,158$534,155$484,770$670,262
63$745,842$503,740$444,421$661,119
64$763,547$470,052$400,938$650,111
65$781,219$432,875$354,160$637,090
66$798,797$391,979$303,918$621,898
67$816,211$347,124$250,037$604,363
68$833,384$298,052$192,332$584,305
69$850,227$244,494$130,613$561,527
70$866,641$186,165$64,679$535,821
71$882,514$122,763$0$506,962
72$897,722$53,970$0$475,014
73$912,125$0$0$443,118
74$925,565$0$0$418,864
75$937,870$0$0$423,702
76$948,844$0$0$427,840
77$958,269$0$0$431,169
78$965,903$0$0$433,568
79$971,478$0$0$434,901
80$974,694$0$0$435,020
81$975,218$0$0$433,758
82$972,680$0$0$430,929
83$966,670$0$0$426,328
84$956,732$0$0$419,729
85$942,361$0$0$410,879
86$922,998$0$0$399,500
87$898,023$0$0$385,280
88$866,747$0$0$367,879
89$828,411$0$0$346,917
90$782,172$0$0$321,975
91$727,099$0$0$292,588
92$662,160$0$0$258,244
93$586,216$0$0$218,374
94$498,006$0$0$172,352
95$396,136$0$0$119,485
96$279,066$0$0$59,005
97$145,095$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0